Lordstown Motors

Lordstown Motors Corp. is an automotive company, which engages in the design and manufacture of light duty electric trucks targeted for sale to fleet customers. The firm develops its flagship vehicle, the Endurance, an electric full-size pickup truck. The company was founded by Stephen S. Burns on November 13, 2018 and is headquartered in Lordstown, OH.

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Nu Ride, Inc. is an automotive company, which engages in the design and manufacture of light duty electric trucks targeted for sale to fleet customers. The firm develops its flagship vehicle, the Endurance, an electric full-size pickup truck. The company was founded on November 13, 2018 and is headquartered in New York, NY.

Lordstown Motors Corp on Thursday reported its first quarterly profit as the electric-vehicle company benefited from the sale of certain assets including its Ohio assembly line to Taiwanese contract manufacturer Foxconn.

Lordstown Motors reports first quarterly profit on asset sale to Foxconn

LORDSTOWN, Ohio , Aug. 4, 2022 /PRNewswire/ -- Lordstown Motors Corp. (Nasdaq: RIDE), ("Lordstown Motors" or "LMC"), an original equipment manufacturer ("OEM") of electric light duty vehicles focused on the commercial fleet market, today released its second quarter 2022 financial results and provided a business update. Second Quarter and Recent Business Highlights Ending cash balance of $236 million is above internal expectations and extends our runway, due in part to disciplined expense controls and rigorous program management Closed Asset Purchase Agreement with Foxconn ("APA"), generated $107.5 million cash proceeds in 2Q22 and $257.5 million in total proceeds Reported operating profit of $61.3 million, inclusive of a $101.7 million gain on sale plus a $18.4 million reimbursement of certain operating expenses related to the plant sale Core operating expenses1, excluding the impact of the APA, were $58.8 million or 33% lower than 1Q22, and down 47% versus 2Q21 Closed Contract Manufacturing Agreement, transferred the plant and approximately 400 manufacturing employees to Foxconn, reducing operating complexity and cost, and solidifying path to a less capital intensive and highly variable cost structure Formed a Joint Venture with Foxconn – LMC becomes Foxconn's primary development partner for electric vehicles in the North American commercial market Continued progress with testing, validation and certification activities to prepare the Endurance for Q3 commercial release production and Q4 customer deliveries Appointed Daniel Ninivaggi as Executive Chairman, promoted Edward Hightower to CEO and added several automotive veterans to strengthen senior management team Targeting a limited number of strategic fleet customers for the Endurance and anchor customers for the first vehicle to be produced with Foxconn through our joint venture   1)  See "Non-GAAP Measures" below.

Lordstown Motors Reports Second Quarter 2022 Financial Results

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LORDSTOWN, Ohio , July 21, 2022 /PRNewswire/ -- Lordstown Motors Corp. (Nasdaq: RIDE), ("Lordstown Motors"), an original equipment manufacturer (OEM) of electric vehicles focused on the commercial fleet market, today announced that it will release its second quarter 2022 financial results before market open on Thursday, August 4, 2022. The company will then host a conference call at 8:30 a.m.

Lordstown Motors Announces Timing of Second Quarter 2022 Financial Results and Webcast

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A management shakeup signaled the company is ready to move to its next stage of development.

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Lordstown Motors announced broad changes to its leadership roster today, including a new CEO. RIDE stock is up 1% so far on the news.

Lordstown Motors (RIDE) Stock Revs Up With New CEO

Veteran engineer Edward Hightower will lead Lordstown as it transitions to product development.

Electric vehicle startup Lordstown Motors names new CEO following Foxconn deal

Shares of Lordstown Motors Corp. rose 1.2% in premarket trading Tuesday, after the electric vehicle maker named President Edward Hightower to the additional role of chief executive officer, effective immediately. Chairman Daniel Ninivaggi, who had also been serving as CEO since August 2021, was also elected executive chairman.

Lordstown Motors names Edward Hightower as CEO

Electric vehicle startup Lordstown Motors Corp's Chief Executive Officer Daniel Ninivaggi will step down with immediate effect and Edward Hightower will take over, the company said on Tuesday.

Lordstown CEO Daniel Ninivaggi steps down

LORDSTOWN, Ohio , July 12, 2022 /PRNewswire/ -- Lordstown Motors Corp. (Nasdaq: RIDE), ("Lordstown Motors" or "LMC"), an original equipment manufacturer (OEM) of electric vehicles focused on the commercial fleet market, today announced several key executive appointments that further strengthen the company's senior leadership team. Daniel A.

Lordstown Motors Announces Executive Appointments

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Lordstown Motors shuffles the chairs on the deck of the Titanic by adding two new independent directors: Joseph B.

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Appoints Daniel Ninivaggi as Chairman of the Board LORDSTOWN, Ohio , May 19, 2022 /PRNewswire/ -- Lordstown Motors Corp. (Nasdaq: RIDE), ("Lordstown Motors"), an original equipment manufacturer (OEM) of electric light duty trucks focused on the commercial fleet market, announced today that at its annual meeting of stockholders, Joseph B. Anderson, Jr., Laura J.

Lordstown Motors Stockholders Elect Two New Independent Directors

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